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zinglicious
02-07-2009, 03:04 AM
Just concluded buyout from the existing shareholders for my restaurant today. And may need additional funds as working capitals for further expansion as in manpower and equipements particularly getting ready for a tender to cater for college.
Question ??? what commercial loans should I turn to? I have been quite naive about the loans scheme as I have been dealing entirely on cash all the while. Can anyone enlightened me about what best loan to undertake for 200k to 500k for 5 to 10 years period? And how does the SME loan differs from normal loan proceedures and chargable interest rate?
At present, it is SDN BHD with paid up capital of 199K.

chewie
02-07-2009, 10:46 AM
You could try to approach SME Bank, or banks that offer SME loans.

Some banks do offer business loans, but I do believe they need some documentations.

Try to google on SME bank and give it a try.

I am not sure about this but is what I heard you can approach MATRADE for some funds. Is like a government grant.

I know of a company is asking funds to do football promotions activity.

Sentinel
02-07-2009, 10:56 AM
Just concluded buyout from the existing shareholders for my restaurant today. And may need additional funds as working capitals for further expansion as in manpower and equipements particularly getting ready for a tender to cater for college.
Question ??? what commercial loans should I turn to? I have been quite naive about the loans scheme as I have been dealing entirely on cash all the while. Can anyone enlightened me about what best loan to undertake for 200k to 500k for 5 to 10 years period? And how does the SME loan differs from normal loan proceedures and chargable interest rate?
At present, it is SDN BHD with paid up capital of 199K.
Why do buyout your partners? Are you looking for a new partner?

zinglicious
03-07-2009, 04:33 AM
Prefer to consider buyout as P & C. Despite previous partnership hiccups, I am still thankful as it has had taken a step closer to bigger pictures i.e.the design of the Chef Room and ultra modern toilets which has had impressed many patrons.

Seeking a sizable long term bank loan is neccessary as to funding of large inventories and kitchen equipments to facilitate expansions particularly for the college tender.

For instance, though the paid up capital was 199K, the actual amount spent on zinglicious is twice the amount. Despite the kitchen consist of 1/5 of premises, the whole costing is double or triple amount of renovation. That is where I actually impress on patrons who visited my kitchen and probably why I was asked to tender for the college job. As a working chef, my time is devoted to creating and maintaining standard of meals to customers.

Anyhow, would consider limited partnership if it can synergise the future of zinglicious which is operating on basis of affordable good meals which is healhty, yet tasty with no MSG.

The ideal partnership would be someone who can assist in financial and marketing aspects of restaurant business in which I have neither the liking and time to do it. Somebody with multinational corporate experience would be my taste bud.

But as for now, I am still looking for answers about banking loans of SME or standard business loans as to the requirements and interest rate offers by the banks. Can anyone gives me thier experiences with banking loan before I talk to the bankers?

Not desperate enough to go to AH LONG BANK with current funding :D though it is so hassle free.

Sentinel
03-07-2009, 10:27 AM
How much capital do you need your partner to invest and what percentage would this be? P.S. I am not an ah long not to worry, I just have some friends looking to put money in some food, hardware retailing, pharmaceutical retailing businesses during this downturn. Just investments, no participation in management at all.

zinglicious
04-07-2009, 12:58 AM
Interesting to note that your friends are interested to invest in restaurant business. but seriously, the direction on business is unlike the kopitiam franchising business. Quickie returns yet, like Hong Kong cha chan may be vanished after a few years.
I prefer to work out in details i.e. maintaining service and quality like Mc D managment service. That is why I respond to your enquiry of possible partnership and stated I need help in various responsiblities i.e. marketing and finnances which I cannot multi task. Though of course, with adequate fundings , I can hire professional managers to do that which could be eventually be the right thing to do especially if the response to the franchising business takes off like rocket with capable staff ,equipment and logistic.
But right now, I am more concern about the present set up and the college tender which is for next year.....just months away. I got to hire people local and foreigners like Philipines which can cost me a bomb initially. But also the extra equipment which is unthinkable without fundings.
After buying out cost, I am still good just to run this restaurant but this college contract is worrisome to me without assitance.

I cannot outline the details of participation here but if interested plse PM or SMS me for a meeting next week.

Anyway, got a call about govt grant of 50K which is part the stimulus plan but unsure whether it is credible. Comments anyone?

clfoo
04-07-2009, 01:29 AM
i think what sentinel's fren intended to be is vc for your restaurant business.

zinglicious
04-07-2009, 01:35 AM
i think what sentinel's fren intended to be is vc for your restaurant business.
pardon what is vc?

clfoo
04-07-2009, 01:42 AM
pardon what is vc?

venture capitalist. generally they can relief your financial burden but not directly at the management burden.

zinglicious
04-07-2009, 01:56 AM
Thanks, now I got it.

zinglicious
10-07-2009, 12:51 AM
Dato Tupai just handed me some useful info regarding the banking info on SME. I wonder why the bankers dont even bother to present me this type of info. Thanks. Care for some USA graded A scallops as a token of thanks?

tupai
11-07-2009, 12:48 PM
Dato Tupai just handed me some useful info regarding the banking info on SME. I wonder why the bankers dont even bother to present me this type of info. Thanks. Care for some USA graded A scallops as a token of thanks?

Bro Zing,

Puhliss lah, dont lah downgrade my latoship to a sen-10gross-dato level lah!

Will call u soon to make reservations for the scallops-chow-time :p

Yang Bermimpi scallops latotupai :D